The euro erased early gains to trade around $1.216 on Friday, as investors digested yesterday's ECB policy meeting, US data supporting the Fed's view that the current inflation will be transitory and mixed economic data released earlier this week. The European Central Bank on Thursday maintained an accommodative policy stance and revised up projections for the bloc's economic growth and inflation for 2021 and 2022. Elsewhere, investors continued to digest US data supporting the Fed's view that the current inflation will be transitory. Earlier this week, mixed economic data showed Eurozone economy contracted less than initially thought in the first quarter; while disappointing data for Germany showed an unexpected deterioration in June's investor morale, declines in both industrial production and factory orders for April and a smaller-than-forecast rise in exports.
Historically, the Euro Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro Dollar Exchange Rate - EUR/USD - data, forecasts, historical chart - was last updated on June of 2021.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.21 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.19 in 12 months time.